Enterprise Market Risk Quantitative Analyst (IRRBB & CSRBB), AVP

State Street
London
4 days ago
Create job alert

This job is with State Street, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Role Overview
State Street is seeking an Assistant Vice President - Quantitative Analyst to join the Centralized Modelling, Analytics & Operations (CMAO) team within Enterprise Risk Management. CMAO develops and maintains risk‑measurement models across both the banking book and the trading book.
The initial focus of this role is to support key enhancements to Interest Rate Risk in the Banking Book (IRRBB) and Credit Spread Risk in the Banking Book (CSRBB). This involves hands‑on modelling, analytics, documentation, and close partnership with senior team members responsible for the overall framework.
As skills and capacity allow, the AVP may also gain exposure to broader Enterprise Market Risk modelling, including trading‑book interest‑rate and credit‑spread risk, making this an excellent development role for someone who wants to expand into cross‑book market‑risk modelling.
The position is based in the United States with regular collaboration with colleagues in the UK and EMEA.
Key Responsibilities

  1. IRRBB & CSRBB Analytics and Model Enhancement (Primary Focus)
  • Support enhancements to IRRBB/CSRBB methodologies in QRM, including EVE and NII modelling.
  • Perform detailed analysis of sensitivities, behavioural assumptions, scenario impacts, and attribution of results.
  • Assist with ensuring analytics are produced consistently and align with risk‑appetite and governance expectations.
  • Help diagnose issues in model configuration, data inputs, and scenario behaviour.
  1. Documentation, Review Support, and Governance Preparation
  • Contribute to technical documentation describing model assumptions, methodology, configuration, and limitations.
  • Prepare analysis for senior‑management committees, model‑risk review, and internal challenge sessions.
  • Support responses to Model Risk Management, Internal Audit, and oversight groups by assembling evidence, data extracts, and explanations.
  1. Broader Market‑Risk Modelling (Development Opportunity)
  • Assist with cross‑book analytical work across banking‑book and trading‑book interest‑rate and credit‑spread risk.
  • Contribute to enhancements in risk‑factor modelling, scenario design, sensitivities, and stress testing.
  • Work with Global Markets Risk teams on market‑data analysis, curve construction, and spread analytics.
  1. Cross‑Functional Analytical Support
  • Collaborate with CMAO, Treasury, Model Risk Management, and regional teams.
  • Communicate technical results clearly to colleagues with varying quantitative backgrounds.
  • Manage workloads across multiple workstreams and deliver high‑quality work within timelines.
    Qualifications & Experience
    Essential
  • Advanced degree in a quantitative discipline.
  • 3-6 years of experience in IRRBB/CSRBB, ALM, market risk, model development, or related analytics.
  • Working experience with QRM.
  • Strong analytical and programming skills in Python, R, or similar.
  • Understanding of IRRBB/CSRBB regulatory expectations.
  • Ability to produce clear technical documentation.
    Desirable
  • Exposure to trading‑book market‑risk analytics or derivative pricing.
  • Experience supporting model validation or audit.
  • Familiarity with risk‑factor modelling, sensitivity calculations, or scenarios.
  • Experience handling large and complex market‑data sets.
    Soft Skills
  • Strong written and verbal communication skills.
  • Curiosity and willingness to grow across banking‑book and trading‑book risk domains.
  • High attention to detail and organisational skills.
  • Ability to work in dynamic environments.
    About State Street Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
    We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you'll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
    As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
    Discover more information on jobs at StateStreet.com/careers
    Read our CEO Statement

Related Jobs

View all jobs

Data Architect - Mainframe Migration & Modernization

Data Architect – Mainframe Migration & Modernization

Data Architect

Senior Data Engineer

D2C Data & Business Intelligence Manager

BI & Data Warehouse Developer

Subscribe to Future Tech Insights for the latest jobs & insights, direct to your inbox.

By subscribing, you agree to our privacy policy and terms of service.

Industry Insights

Discover insightful articles, industry insights, expert tips, and curated resources.

How Many Data Science Tools Do You Need to Know to Get a Data Science Job?

If you’re trying to break into data science — or progress your career — it can feel like you are drowning in names: Python, R, TensorFlow, PyTorch, SQL, Spark, AWS, Scikit-learn, Jupyter, Tableau, Power BI…the list just keeps going. With every job advert listing a different combination of tools, many applicants fall into a trap: they try to learn everything. The result? Long tool lists that sound impressive — but little depth to back them up. Here’s the straight-talk version most hiring managers won’t explicitly tell you: 👉 You don’t need to know every data science tool to get hired. 👉 You need to know the right ones — deeply — and know how to use them to solve real problems. Tools matter, but only in service of outcomes. So how many data science tools do you actually need to know to get a job? For most job seekers, the answer is not “27” — it’s more like 8–12, thoughtfully chosen and well understood. This guide explains what employers really value, which tools are core, which are role-specific, and how to focus your toolbox so your CV and interviews shine.

What Hiring Managers Look for First in Data Science Job Applications (UK Guide)

If you’re applying for data science roles in the UK, it’s crucial to understand what hiring managers focus on before they dive into your full CV. In competitive markets, recruiters and hiring managers often make their first decisions in the first 10–20 seconds of scanning an application — and in data science, there are specific signals they look for first. Data science isn’t just about coding or statistics — it’s about producing insights, shipping models, collaborating with teams, and solving real business problems. This guide helps you understand exactly what hiring managers look for first in data science applications — and how to structure your CV, portfolio and cover letter so you leap to the top of the shortlist.

The Skills Gap in Data Science Jobs: What Universities Aren’t Teaching

Data science has become one of the most visible and sought-after careers in the UK technology market. From financial services and retail to healthcare, media, government and sport, organisations increasingly rely on data scientists to extract insight, guide decisions and build predictive models. Universities have responded quickly. Degrees in data science, analytics and artificial intelligence have expanded rapidly, and many computer science courses now include data-focused pathways. And yet, despite the volume of graduates entering the market, employers across the UK consistently report the same problem: Many data science candidates are not job-ready. Vacancies remain open. Hiring processes drag on. Candidates with impressive academic backgrounds fail interviews or struggle once hired. The issue is not intelligence or effort. It is a persistent skills gap between university education and real-world data science roles. This article explores that gap in depth: what universities teach well, what they often miss, why the gap exists, what employers actually want, and how jobseekers can bridge the divide to build successful careers in data science.